Using Care Credit
What is Care Credit ?
Care Credit is a healthcare credit card that can be used to pay for out-of-pocket expenses not covered by medical insurance. Care Credit offers special financing options that you may not be able to get with other cards.
How can I use Care Credit to pay for therapy?
You can use Care Credit to pay for therapy sessions similar to how you would use a credit card. Care Credit offers deferred APR options, which allows clients to pay lower monthly minimum amounts for a promotional period.
How do I apply for Care Credit?
You can apply for a Care Credit card on their website (linked at the top and bottom of this page).
Can I use my Care Credit card elsewhere?
There are different types of Care Credit cards. Some are only for medical related purchases and others can be used anywhere. It may be important to note that if you are using your Care Credit card to carry a promotional balance, additional purchases may incur additional interest fees from a different APR. Please visit Care Credit's website to learn more.
What are the potential benefits of using Care Credit?
Paying smaller amounts regularly over an extended period can make therapy more affordable for some.​ Additionally, Care Credit can help to finance therapy upfront while waiting for insurance reimbursement.
What are the potential drawbacks of using Care Credit?
If you do not make minimum payment amounts, you can end up paying additional fees or interest. Could potentially create stress in the future if a client defers payment for the entire 0% APR period with no way to pay the balance due at that time. Typically there is a high APR/interest rate at the end of the 0% APR/interest period. Meaning that you could quickly accrue a very high additional balance, if you have not adequately planned out how to pay the balance by the loan period. This option is not recommended or optimal for those who have a problematic history of managing timely payments, handling debt wisely, or who are seeking therapy specifically related to financial spending/management issues.
What are some important considerations when using Care Credit?
HFT encourages clients interested in Care Credit to: - Plan for making monthly minimum amounts to not incur fees or interest rates - Consider the timeline of the deferred interest promotional period to know what to expect and when
Does HFT have any financial incentives for clients to use Care Credit?
HFT does not receive any financial incentive for clients to use Care Credit accounts to pay for therapy. HFT pays an additional transaction fee for each Care Credit charge.
Why does HFT offer/accept Care Credit?
We want to offer our clients different options for financing therapy in order to make therapy more accessible. While managing a new line of credit isn't a strategy for everyone, we aim to offer this option for those that it is.
